Having been in management and supervisory positions with each of the world's two largest banks, I can assure you that the banking community is diligent in pursuing absolute perfection in the areas of legal and ethical compliance. I am no longer a banker, and actually have significant personal disdain for the industry, so I can speak quite candidly. Banks, and any sector of the financial services community, don't take any chances insuring they are unquestionably in compliance with all regulatory and industry standards. These organizations hire entire departments for no other purpose. The ridiculous level of oversight and the potentially fatal consequences of even the slightest error ensure the integrity.
Now don't get me started about the dismal job banks do when it comes to managing your money.
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2007-02-12 02:30:07
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answer #1
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answered by Rob D 5
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